Minister of Oil Highlights Progress in Iraq’s Oil Industry Development
Iraq is advancing significantly in the development of its oil industry, according to Minister of Oil, Hayyan Abdul-Ghani, in a statement released on March 3, 2025.
During a meeting with a German delegation, which included members from the German embassy in Baghdad, the German Chamber of Commerce, and various specialized companies, Abdul-Ghani emphasized Iraq’s commitment to fostering collaboration with diverse international partners, particularly German firms known for their industrial expertise and high-quality services.
The Minister noted, “Iraq has made substantial strides in the oil sector, especially in optimizing gas investments. The current government has facilitated a significant increase in associated gas investment, enhancing investment rates from 53% to over 67%. Our goal is to eliminate gas flaring and achieve self-sufficiency by 2028.”
Abdul-Ghani elaborated on the Ministry’s expansive gas investment initiatives, highlighting the major gas development project in Basra, executed in partnership with Total Investment Company, valued at $600 million and structured in two phases. The Ministry has also signed contracts for the development of key fields, including Mansourieh and Akkas, along with contracts for 14 exploratory fields presented in the last two licensing rounds.
The Minister further stated, “The Ministry is exploring investment opportunities in both gas and oil exploratory fields through the latest licensing rounds, aiming to leverage partnerships with specialized international companies for development projects.”
In this context, the German companies presented a detailed overview of their operations and proposals for collaboration with the Ministry, covering areas such as exploration, pipeline construction, laboratories, training, as well as the provision of equipment and supplies essential for oil operations.
